Global Policy Interdependence

“As has been amply demonstrated in empirical studies, the nature of market outcomes are massively influenced by public policies in education and literacy, epidemiology, land reform, microcredit facilities, appropriate legal protection, etc., and in each of these fields there are things to be done through public action that can radically alter the outcome of local and global economic relations. It is this class of interdependences that have to be understood and utilized to alter the inequalities and asymmetries that characterize the world economy.” [My italics]